With the global liquidity situation changing, institutional investors were no longer interested in waiting patiently for startups to go hybrid. The pressure of meeting the promised targets and churning out profits even as ground reality turned hostile led several startup founders to cut corners in recognising revenues, reporting financials or painting an all-is-well picture.
Healthtech platform Glamyo Health has laid off at least 160 employees, has not paid workers over the last few months, and is allegedly planning to file for bankruptcy soon, according to an FIR filed by an impacted employee here.Filed at the .
Surgery care startup Glamyo Health has reportedly laid off most of its employees without clear communication of salary payments, leading to legal action.